Market Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP Helps Businesses Track Newly Extended Work Opportunity Tax Credit Program to Help Capture Eligible Tax Credits and Improve Business Performance

[Marketwired] – Following President Obama signing both the Omnibus Spending Bill H.R. 2029 and the PATH Act into law last Friday, which provides a five-year extension of the Work Opportunity Tax Credit Program, ADP® announced … Read more on this. Automatic Data Processing, Inc. (ADP) , valued at $38.53B, started the session at $83.81. During the trading session, ADP traded between $83.35 to $84.05 with its 52-week range being $64.29 to $90.67. ADP shares are currently priced at 25.62x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 23.78x earnings multiple for the same period. And for income investors, the company pays shareholders $2.12 per share annually in dividends, yielding 2.55%. In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $0.72 per share, which would be $0.02 better than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.25, which would be a $0.36 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.82 Billion. If realized, that would be a 6.02% increase over the year-ago quarter. In terms of ratings, Stifel downgraded ADP from Buy to Hold (Dec 5, 2014). Previously, Topeka Capital Markets Initiated ADP at to Sell. The average price target for ADP shares is $88.00, which is 5.00% above where the stock opened this morning. See more in (NASDAQ:ADP) Similar Articles: Company Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP Small Business Report: Small Business Employment Increased by 85,000 Jobs in August Company Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP Small Business Report: Small Business Employment Increased by 59,000 Jobs in July Company Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP Small Business Report: Small Business Employment Increased by 120,000 Jobs in June